CBI concerned about lack of Brexit progress

The Confederation of British Industry (CBI) said it is concerned by the lack of progress in the Brexit talks between the UK and the EU.

Negotiations between the UK and the EU on their post-Brexit future relationship have become deadlocked, negotiators have admitted.

At the end of the third round of talks between Brussels and the UK, David Frost, Britain's chief Brexit negotiator, said discussions had stalled because of disagreements over the EU's demands on the so-called level playing field.

The bleak assessment was shared by his EU counterpart Michel Barnier who said the two sides risked reaching a 'stalemate'.

Commenting on the latest update on the UK/EU Trade Agreement talks, Josh Hardie, CBI Deputy Director-General, said: 'Businesses struggling to deal with the continuing fallout from the COVID crisis will be concerned to learn only small steps have been made in the latest talks.

'This an unprecedented time for people and businesses everywhere. With a recession looming and company Brexit preparations stalled, it is important that a cliff-edge at the end of the year is avoided. The best way to help companies is for both sides to keep their options open, seek an ambitious deal and leave enough space to get implementation right first time.'